income tax regarding demonitised currency deposit
This query is : Resolved
19 November 2016
Hello sir,
I am working in a mnc company for past 10 years and paying tax through tds. I have 3 lakh and 6 thousand rupees in my hand as discontinued 500 and 1000 rs notes. All these money are saved from my salary only by myself and my wife saved this money after the household expenses. Yesterday I deposited all this money in my savings account. Now my query is does the income tax dept will send a notice to me or not.?. I am really confused very much. Kindly explain what would happen in my case.
19 November 2016
Now that you have deposited, trust your luck for any notice from income-tax department. If at all, one of them finds your way home, explain the officer about the cash deposits which basically constitute your past savings.
20 November 2016
No need to worry for such a small amount of money. File the return for current financial year no questions will be asked.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
